1. Identity theft
Identity theft occurs when someone wrongfully
acquires or uses another person's personal and financial data,
typically for their own financial gain.
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2. Phishing
Phishing
is an impersonation of a corporation or trusted institutions that
aims to steal valuable information such as credit card, user IDs and
passwords.
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3. Card fraud and skimming
Skimming is the practice of extracting the information
from the magnetic stripe on a credit card with the intention of
making a copy of the card.
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4. ATM fraud
Various
dubious methods are used to fraudulently withdraw funds out of
customer's accounts.
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5. SIM swap fraud
Fraudsters obtain and utilise the customer's replacement
SIM card to acquire security messages and one-time passwords sent to
the customer by the bank.
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6. Cheque fraud
The
act of fraudulently obtaining and using cheques for financial
gain.
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7. Deposit slip scams
Such scams occur when deposit slips are used to trick
people into transferring money into fraudster's accounts.
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8. Pharming
Pharming
aims to redirect a website's traffic to another bogus website
through domain spoofing to obtain confidential information such as
your passwords.
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9. Money laundering
Money laundering is the process whereby the origin of
funds generated by illegal means (ie. drug trafficking, gun
smuggling, corruption, etc.) is concealed.
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10. Nigerian scams/ advanced fee
fraud
Perpetrators of 419 Nigerian scams operate
by sending the victim an unsolicited letter, fax or email containing
either an illegitimate or illegal proposal.
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